Sea Launch eyes exclusivity extension to formulate plan, solicit votes

By Lisa Kerner

Charlotte, N.C., Aug. 20 - Sea Launch Co., LLC is seeking a fifth extension to its exclusive periods to file a plan of reorganization and solicit votes on the plan, according to a Friday filing with the U.S. Bankruptcy Court for the District of Delaware.

The company wants to extend its exclusive filing period to Dec. 22 from Sept. 16 and the solicitation period to Feb. 20, 2011 from Nov. 14.

A hearing is scheduled for Sept. 21.

According to the motion, Sea Launch wants to preserve exclusivity in the event that a competing plan is submitted. Sea Launch also cited the size and complexity of its cases.

The plan was confirmed by the court in July.

Previously the court extended the filing period four times, most recently to Sept. 16 from June 18 and the solicitation period to Nov. 14 from Aug. 16.

Sea Launch, a Long Beach, Calif., heavy-lift satellite commercial launch service provider, filed for bankruptcy on June 22, 2009. Its Chapter 11 case number is 09-12153.

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